Carried Interest Calculator - Fund Carry Split

The carried interest calculator estimates a simplified fund carry split after invested capital, exit value, hurdle rate, carry percentage, and GP commitment. It is aimed at private equity, venture capital, real estate fund, and hedge fund scenarios where a quick waterfall approximation is needed. Carried interest is the general partner's performance allocation, so the core question is how much profit remains after capital and preferred return assumptions before applying the carry percentage. The formula is: GP carry = max(0, exit value - invested capital - invested capital x hurdle rate) x carry percentage; LP distribution shown = exit value - GP carry - GP commitment share. The calculator first measures total profit, calculates hurdle profit on invested capital, then applies the carry percentage only to profit above that hurdle. It also displays total profit and hurdle profit to make the waterfall components visible. Use the calculator for term-sheet education, fund model checks, and scenario analysis around exit values. Increasing the hurdle reduces GP carry until the hurdle is cleared, while increasing the carry percentage gives the GP a larger share of upside above the hurdle. The GP commitment field reduces the LP distribution display to reflect a simple GP capital share in the proceeds. Real fund waterfalls can be much more complex. European waterfalls, deal-by-deal waterfalls, catch-up provisions, clawbacks, management fee offsets, recycling, taxes, and multiple closing dates are not modeled. Treat the result as a transparent approximation and compare it with the limited partnership agreement or a full waterfall model before relying on it for economics or negotiations. For best results, keep all inputs on the same time basis and currency basis, then save the assumptions beside the output. That practice makes the estimate easier to audit later and prevents a common spreadsheet error: mixing monthly values with annual values or combining before-tax and after-tax figures. Re-run the scenario with conservative and optimistic assumptions before using the result in a budget, filing decision, trade review, or transaction memo.